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AmEx Faces Fed Inquiry On Business Card Sales Tactics

PYMNTS

(AmEx) harnessed strong and deceptive sales practices for card sales to business owners and if clients experienced negative effects, The Wall Street Journal reported Thursday (Jan. 7), citing unnamed sources. A representative for AmEx told WSJ, “We have robust compliance policies and controls in place, and do not tolerate misconduct.”

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In 2019, Mobilize The Commercial Card: JPMorgan

PYMNTS

While commercial card innovation certainly accelerated in 2018, progress can always continue. Morgan Managing Director and Head of Commercial Card Product Management Naney Pandit says should be a focus this year is in mobilizing the corporate card. One area of development that J.P.

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Asia Corporates Replacing ACH With Cards, Citi Finds

PYMNTS

Corporates across the Asia Pacific region are increasing their use of commercial card products, according to a new report from Citi. Businesses increased their spend on commercial cards by 24 percent in 2017, Citi’s analysis found. Reports in The Asset on Thursday (Oct. Reports in The Asset on Thursday (Oct.

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The way we bank is radically changing too

Chris Skinner

There are almost 20 million users of mobile banking across the UK in 2016, making 159 logins every second. People are increasingly using banking apps to access a broader range of services such as savings, credit cards and mortgage/investments accounts, rising by 30%. Video chats are also growing in popularity, up 92% during 2016.

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2016 Innovators to Watch: 1 to 5

Bank Innovation

Lucy Peng, CEO, Ant Financial Ant’s latest fundraising round – the largest ever anywhere – of $4.5 billion, and its overall valuation of more than $60 billion, have turned the Alibaba spinoff into one of the most valuable private tech companies in the world. Launched in 2014, Ant Financial Read More.

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Cancel Culture: Technology Makes Managing Subscriptions Easy For Consumers and Banks

PYMNTS

But keeping track of it all can be a challenge — especially knowing what card is being charged, by whom, and when. Knowing which card pays which subscription, let alone canceling them, can be a pain point. Founded in 2016 in Gothenburg, Sweden, Minna enables customers to manage subscription services via their bank’s app.

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Card Use Reaches New Heights, and So Does Fraud

Bank Innovation

Consumer card transactions will overtake cash transactions for the first time in 2016, according to global research firm Euromonitor International. Cash is expensive to manage and is extensively used in the underworld.

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